BlackBerry 10 sales were extremely weak, and the company has a large stockpile of unsold Z10 phones leading to a good portion of the quarter's losses. The company says 3.7 million smartphones will have been sold to end users in the quarter. Sales to retailers and carriers are no longer counted if those devices don't sell, in an effort to be more transparent.

Sadly, of those 3.7 million devices, the majority are older BlackBerry 7 phones, like the Bold, which were released in 2011.

After laying off 4500 more employees, the company will be down to 8000 employees. At its peak, the company employed 20,000.